ADSLOT LTD. — Board/Management Information 2024

Feb 15, 2024

ASX: ADS Level 2, 419 Collins Street Melbourne Vic 3000 Australia Tel: +61 (0)3 8695 9100

ASX Announcement 16 February 2024

Launch of br1dge and changes to board composition

Adslot Ltd (ASX:ADS) (“ the Company ”) is pleased to announce the launch of a new, wholly-owned subsidiary, Br1dge, Inc. (“ br1dge ”), which has been established to capitalise on the significant opportunities emerging with the imminent deprecation of 3[rd] party cookies. 3[rd] party cookies have historically been used to track, target and attribute audiences in digital advertising. br1dge will be led by a highly experienced executive team based in New York, including incoming CEO Mark Pearlstein, and the subsidiary will be chaired by Mr. Andrew Barlow. As part of this transition, Mr. Barlow has resigned as a director of the parent company, Adslot Limited, effective immediately.

The demise of 3[rd] -party cookies and the rise of the “Invisible Audience”

The Company notes that the global advertising industry has been progressing toward a future without 3[rd] party cookies for over 5 years. This has been driven largely by both consumer and regulatory privacy concerns in Europe and North America. Apple has already eliminated 3[rd] party cookies from the Safari browser and requires consumer consent to track behaviors in iPhone applications. The final catalyst for change has come via the decision by Google to cease supporting 3[rd] party cookies in its Chrome browser by the end of 2024. Given the historical reliance on 3[rd] party cookies for programmatic advertising, the industry faces a generational series of changes as both buyers and sellers look for better ways to buy, measure, and target valuable audiences. According to a 2022 article in MadTech, a leading digital advertising publication, only 30% of the open web has an audience signal or inversely 70% of the open web is an invisible audience. Based on Google’s timeline for cookie deprecation in Chrome, this will drop to 0% by the end of 2024, paving the way for new methods to target audiences without the use of 3[rd] party tracking technologies.

A highly experienced leadership team

The Company is pleased to announce the appointment of Mr. Mark Pearlstein as the CEO of br1dge . Mr. Pearlstein is a highly experienced executive in the Ad Tech industry with 25 years of selling technology platforms, including almost a decade at DoubleVerify (NYSE:DV) spearheading their commercial efforts. In addition, the Company is announcing the appointment of Ms. Tori Egler as Vice President of Commercial Sales. Ms. Egler has 15 years of digital advertising sales experience including 7 years with Mr. Pearlstein at DoubleVerify. Both Mr. Pearlstein and Ms. Egler have been consulting to Adslot over the past six months to develop and refine the br1dge use case and commercial model, and establish a stable of promising initial customer relationships with buyers across the US market.

The br1dge leadership team will be supported by existing Adslot resources in product management, development, and finance.

“I am excited to leverage the Adslot Media infrastructure as the foundation for the br1dge Direct Audience Trading platform which is purpose-built for the next era of privacy-centric digital advertising,” says Mark Pearlstein CEO of br1dge . “The industry is undergoing a seminal shift with ~$180B in programmatic media spend in North America transitioning away from 3[rd] party cookie data and into privacy-friendly models. br1dge is being built from the ground up to provide all the benefits of programmatic audience targeting and maintain consumer privacy by only using fully consented 1[st] party publisher audience data. This creates a win-win for advertisers who can bulk buy 1[st] party consented audiences to achieve their on-target reach goals, and publishers who derive the true value for their content and consented audience data.”

NEW YORK SYDNEY LONDON MELBOURNE MUNICH SHANGHAI

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Product market fit

Internal reviews have highlighted that the existing Adslot Media platform is well positioned to address many of the challenges presented by the removal of 3[rd] party cookies and provides a solid foundation for br1dge to build on. In particular, the platform’s direct integration to publisher ad servers and support of 1[st] party cookies, owned and set by publishers and brands themselves, are highly applicable to the industry’s needs.

Over the past six months, the Company has identified and documented feature requirements to adapt the core Adslot Media platform to service the needs of buyers and sellers of programmatic who can no longer utilise 3[rd] party cookies. These features will culminate in a separate, br1dge -branded product experience that is expected to be delivered and launched in Q4 of FY2024. The existing Adslot Media platform will continue to support the requirements of direct trading of premium media, via open and custom marketplaces. The Company expects the relationship between the products, with their different user groups, to be highly complimentary.

Commercial validation

Discussions have been underway with 4 of the 5 holding companies focused on 11 large advertisers across a broad array of verticals. The first trials are expected to commence in Q4 FY24 with 6 of Adslot Media’s current publishers. Progressive commercialisation of the br1dge product is anticipated in FY25.

The commercial model for br1dge will be based on established programmatic media structures and will feature volume-based fees paid by the buy side. Despite the differing models, the Company expects the effective margin to be equivalent to that of the existing Adslot Media platform.

Role of Mr. Andrew Barlow

The Company announces that Mr. Andrew Barlow will step down from the Board of Directors of Adslot Limited effective immediately, to take up a new role as Chairman of br1dge .

“The Company sincerely thanks Mr. Barlow for his significant contribution and support in various roles as Chairman, Interim CEO and Non-Executive Director of Adslot Limited over the past 13 years,” said Adslot Chairman, Andrew Dyer. “The Company is pleased that Mr. Barlow has agreed to take-up a new role within the Company fold, as Chair of the Company’s new br1dge initiative in the US market. Mr. Barlow’s other commitments mean he could not continue in both roles simultaneously moving forward.”

Mr. Andrew Barlow said, “I am very excited to serve on the Board of br1dge in the US market and to help support Mark as CEO. It is a very exciting project, with enormous upside potential for Adslot. I remain a supportive and dedicated shareholder of Adslot.”

Mr. Barlow recently took up all of his rights in the Entitlement Issue which closed on 29 June 2023, and was also a sub-underwriter of that Entitlement Issue.

Investor Webinar:

The Company welcomes shareholders to join an investor Webinar to discuss the establishment of br1dge and the underlying commercial opportunity. This webinar will be hosted by Adslot CEO, Mr. Ben Dixon and the incoming CEO of br1dge , Mr. Mark Pearlstein at 11:00am on Wednesday 21 February 2024. Investors can register via the following link;

https://attendee.gotowebinar.com/register/9051264819503092062

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About Adslot

Adslot’s mission is to automate the trading of forward guaranteed display advertising, referred to as automated guaranteed. Our leading technology is a purpose built, global media trading platform. Adslot benefits a global community of media buyers and sellers, including media agencies, publishers and advertisers, by providing trading efficiencies and effectiveness made possible only via technology, and by doing so the basis on which the $80B online display advertising industry will realise its full growth potential.

Adslot is a global organisation with operations in North America, Europe and Asia Pacific, and is headquartered in Australia.

This announcement is authorised for release by the Board of Adslot Limited.

For further enquiries, please contact:

Ben Dixon Chief Executive Officer Adslot Limited investor.relations@adslot.com